Member Info for MrMagic

How much went to "working capital"? CLN with YA should have been paid down imo. There remains a huge sum owed on that CLN despite the small partial payment. There has been enough cash from these UKOG share sales to pay down that awful CLN. AB's decision not to do so surely now means YA will convert into shares imo. I figure it would be over 105m shares at current SP levels (0.54p with discount). Do your own figures.

booboo "Wheres all the money gone?" I think I can guess ! Certainly not in PI's pockets !

Greets, could you kindly point out which parts of Zumore's post is incorrect or made up please?

Only 6 trades yesterday and 6 so far today. Seems there is little demand for RGM shares at the moment. I suspect the Rosa Coal debacle has contributed to that situation

Okenia - "We will now sing Hymn number 423 which will be followed by an exit collection" Whilst the pastor creams in the cash nicely all under the auspices of repairs for the church roof which strangely seems to be taking many years to complete !

Frank - "come on guys tell us about your holdings or shorts or shut up" Sorry Frank but this is a board for discussing the aspects of the company, not posters holdings. No-one here is under any obligation to disclose their holdings and no-one should feel pressured to do so. Play the ball not the man and if you can't play the ball then perhaps you shouldn't have invested?

Okenia: "Zumore and Mystic Meg have been banging on negatively about YA this, YA that, ever since had deal was struck." And rightly so. A $1m Convertible Loan Note with Yorkville hanging over proceedings like a dark cloud is not an attractive aspect for investors. Yesterday's RNS equally confirms that Mr Bell understands the same from his statement: "We recognised the fears of some investors that this loan might lead to share issues to the lender that might negatively affect our share price" Nothing unusual about that. A discounted "death spiral" type CLN is a blot on the landscape. The sooner it is removed from play the better for all concerned. Okenia: "You've said YA was A Bag Thing. Getting rid of chunks of YA is thus - by normal logic if not yours - A Good Thing. Yes?" Indeed and my post a page or two back confirms that I actually stated that. It's partially good news. A move in the right direction. Fact is though that the CLN remains, and there's still a sizable chunk on it, and kudos to booboo and zumore for correctly highlighting the aspects of the deal that I overlooked, i.e. the penalty for repayment and the loan note interest. It's a positive sign that a part of the CLN has been paid off, but to ease sharehodler concerns I would think that it needs to be paid down in full. Perhaps we should invite Mr Bell to stump up $00,000s of his own personal cash to buy shares here at market rate (or premium) and use the cash to clear the loan note? After all if he doesn't intend to dilute further and if he believes the coal project will deliver he'll be quids in won't he . . . . . . . . . . . ?

Not sure your numbers are correct there booboo. RNS says RGM paid $350k of the (net) $900k of the Yorkville CLN. That leaves $550k by my math. I doubt anyone sold out thinking that YA were converting. I would imagine that a number of people were disillusioned with the lack of production and updates in regards to the coal project which was greatly hyped.

Yes, fair play, there is partial good news today. Reality though is only 35% of the CLN has been paid off. There remains effectively a $550,000 Convertible Loan Note with Yorkville. Time will tell if that too gets paid down before YA convert it into shares. As for AB's statement: "We recognised the fears of some investors that this loan might lead to share issues to the lender that might negatively affect our share price, and hope that this repayment demonstrates the firm intention of the Company that this should not occur" The real proof of the pudding will be in the forthcoming AGM resolutions which I think get tagged onto the back of the Annual Report in December. If AB does NOT include a resolution there to issue a shed load more shares then I will genuinely start to take him seriously. In truth I doubt that will happen.

@Frank Cheers for the update, good to know. Wonder who it is then?!

01 Sep: 4,500,000 @ 0.6361 (£28.62k) 04 Sep: 1,000,000 @ 0.61 (£6,100) 04 Sep: 1,000,000 @ 0.6075 (£6,075) 04 Sep: 1,000,000 @ 0.60 (£6,000) 05 Sep: 1,000,000 @ 0.60 (£6,000) 05 Sep: 3,600,000 @ 0.55 (£19.80k) 05 Sep: 3,600,000 @ 0.55 (£19.80k) 07 Sep: 3,000,000 @ 0.5733 (£17.20k) If this is one seller then it looks like more than 3% so a holdings RNS should be forthcoming perhaps? Could be any one of the significant shareholders. If I had to guess I'd say the Walmsleys but just a total guess and it might not be a single seller at all.

"what will Bell do with all this dosh??? Plenty of places to put it just not in directors account please!!" What ? You mean he hasn't used it to pay down that $1m Convertible Loan Note with Yorkville ?! Surely that would be the best thing for shareholders interests . . .

Lesson to learn then, never listen to the feckless rampers on AIM stocks. You are their bread and butter. Look at how much a company brings in as regular income Look at how much a company expends in Admin and other expenses Look at how much their Current Liabilities are Look at how much percentage of the stock is owned by the CEO Look at how much the share issue keeps rising (if it does) and whether shares are issued at discount Look at the past history of the company and its share graph Look at the likely prospects from projects Make your decisions accordingly.

How were you suckered into it?

Some similarly big sells over at RRR too. Same old.

"You would on the surface think if RGM are paying some of their $1million YA with their UKOG money then that must be told to PIs by an official RNS" Totally agree. I for one won't believe it until it does come via an RNS.

Strange looking 4.5m trade from last Friday reappears today (?) Mr Bell pops in yet another PR interview with Share Talk and the SP takes an 11.54% drop I guess the smart money thinks bad news is coming

Zumore "For the RRR AGM I'm expecting RRR to seek permission to have the ability to issue billions of RRR shares during 2018" I'd say that was a nailed on certainty as it is here at RGM. Bell puts in a request for authority to print millions of shares every year at the AGMs with monotonous regularity. I will happily eat my underpants if he fails to request a shed load more this AGM. Same old same old.

booboo "when that steel works project he has got them into goes wrong they are going to end up with 30 % of something that doesn't work while still holding huge debts along with huge interest rate" Yep which is why the entire ramp campaign that was underway there fizzled out as soon as AB declared that he had used the Jupiter shares as security against a colossal $4.4m loan with Yorkville. Where are RRR gonna find $4.4m from to pay down that loan? I think we can all guess.

Further sale of UKOG shares nets £416,411 From recent Interim Report (6 mths): Admin £267,759 Finance Costs £19,600 (equates to £574,718 for the year) Plus Liabilities of £733,241 of which £268,004 short term borrowings